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EUR/USD continues to tip higher
EUR/USD has tiptoed higher all week, which is not surprising given that today’s European Central Bank (ECB) meeting could be a big one. The pair has clung to the 50-period simple moving average (SMA) on the four-hour chart ($1.1924), but hesitancy ahead of Mario Draghi’s appearance means that the $1.1976 and $1.2040 levels remain unchallenged so far.
A push higher would target these two areas, while it will take a move below $1.1823 to put a more bearish dimension on the price action.
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